You’re opening your 25th bank branch in a location that isn’t very visible from the road, in an area that’s already saturated with competitors, and far from your other offices.
Still, Cragin Federal Bank wanted its grand opening to be a huge success in terms of traffic and money. The bank set up a cross-promotion agreement with a local McDonald’s franchisee. Using that tie-in, Scott Flood and Ace Art Director Mike Reiser created what became the bank’s most successful promotion, called the “Great Savor Grand Opening.”
At its center was a piece delivered to the front door of every home in the anticipated trading area: a fast-food French fry box, filled with what looked to be piping hot strips of potato. Once opened, it provided complete details about the branch and an “invisible ink” game card. Recipient were guaranteed to win either cash, merchandise, or free food, and had to bring the card to Cragin’s new office to determine which.
The effort drew an astounding 4 percent response for a new entrant to the market. Even more important, the bank took in $3.2 million in new deposits, 93 percent of which was money that was new to the bank.